Cementhai sets its sights on home-renovation market
Cementhai Building Products, the building materials flagship of the Siam Cement Group (SCG), is taking aim at the home renovation market by expanding its building product system centres, said president Pichit Maipoom.
"Due to our success in developing roofing centres to provide roof-repair services, we see potential in the home renovation market that has been overlooked by industry operators," he said.
The company is seeking new markets at a time when domestic sales growth has been flat compared with last year, reflecting the slowing pace of the property market and an oversupply in some product categories, he said.
Mr Pichit said the company had anticipated a slowdown in the property market since early this year, but the 1% growth was even lower than it had expected.
Total domestic production capacity of ceramic tiles is 175 million square metres per year while demand has been stagnant at 120-125 million sq m since last year.
This year, Cementhai expects to see its total sales grow by 3% to 25 billion baht, with a reduced margin due to higher production costs and foreign exchange losses.
Published under Cement News
